South Bow (NYSE:SOBO) Reaches New 1-Year High – Should You Buy?

Shares of South Bow Corporation (NYSE:SOBO) hit a new 52-week high during trading on Friday . The stock traded as high as $38.45 and last traded at $38.2350, with a volume of 86414 shares. The stock had previously closed at $37.76.

Analysts Set New Price Targets

Several brokerages have recently commented on SOBO. Weiss Ratings upgraded South Bow from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 20th. Raymond James Financial began coverage on South Bow in a report on Tuesday. They set an “outperform” rating on the stock. Royal Bank Of Canada restated an “outperform” rating on shares of South Bow in a report on Monday, May 11th. The Goldman Sachs Group began coverage on South Bow in a report on Monday, April 20th. They set a “sell” rating and a $29.00 target price on the stock. Finally, BMO Capital Markets restated a “market perform” rating on shares of South Bow in a report on Monday, April 27th. Four equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $31.57.

South Bow Stock Performance

The firm has a fifty day moving average of $34.93 and a 200-day moving average of $31.38. The firm has a market cap of $7.91 billion, a P/E ratio of 18.67 and a beta of 0.14. The company has a quick ratio of 1.37, a current ratio of 1.51 and a debt-to-equity ratio of 2.16.

South Bow (NYSE:SOBO) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.02). South Bow had a net margin of 21.32% and a return on equity of 15.24%. The firm had revenue of $491.00 million during the quarter, compared to the consensus estimate of $491.21 million. During the same quarter in the prior year, the business earned $0.47 EPS. South Bow’s revenue was up 1.0% on a year-over-year basis. Research analysts predict that South Bow Corporation will post 1.76 earnings per share for the current fiscal year.

South Bow Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.3%. South Bow’s dividend payout ratio (DPR) is currently 98.52%.

Institutional Investors Weigh In On South Bow

A number of hedge funds and other institutional investors have recently bought and sold shares of SOBO. City Holding Co. raised its position in South Bow by 277.4% in the 4th quarter. City Holding Co. now owns 1,000 shares of the company’s stock valued at $27,000 after buying an additional 735 shares during the last quarter. Parallel Advisors LLC raised its position in South Bow by 140.5% in the 1st quarter. Parallel Advisors LLC now owns 849 shares of the company’s stock valued at $28,000 after buying an additional 496 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in South Bow by 157.3% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,055 shares of the company’s stock valued at $30,000 after buying an additional 645 shares during the last quarter. IFP Advisors Inc raised its position in South Bow by 780.3% in the 3rd quarter. IFP Advisors Inc now owns 1,206 shares of the company’s stock valued at $34,000 after buying an additional 1,069 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its position in South Bow by 1,993.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,340 shares of the company’s stock valued at $35,000 after buying an additional 1,276 shares during the last quarter.

About South Bow

South Bow Corp is a strategic liquids pipeline company. It is a new liquids-focused midstream infrastructure company. South Bow Corp is based in Canada.